Brokerages Set Nordstrom, Inc. (NYSE:JWN) Target Price at $20.33

Nordstrom, Inc. (NYSE:JWN) has been assigned an average recommendation of “Reduce” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.58.

Several equities research analysts recently commented on the company. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. BMO Capital Markets upped their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th.

Nordstrom Trading Down 1.8 %

Shares of JWN opened at $22.26 on Friday. Nordstrom has a 1-year low of $13.68 and a 1-year high of $24.93. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm’s 50-day moving average price is $22.75 and its 200-day moving average price is $22.11. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.01 and a beta of 2.59.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.41%. Nordstrom’s dividend payout ratio is presently 44.44%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its holdings in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares in the last quarter. Atlas Capital Advisors LLC lifted its position in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Nordstrom in the second quarter valued at approximately $39,000. Blue Trust Inc. lifted its stake in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after buying an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Nordstrom during the 2nd quarter worth approximately $71,000. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.